Let’s not forget that these banks also imposed a “consultant/overseer” on Lehmann with fees in the range of 600,000€ for a year and a half. As some see it, a ploy to keep them from making reasonable payments on the notes.
The only smile came from the city of Altenfurt making a smart move in the end that left Goldman Sachs with way less than half of the real estate they thought they were going to get in their debt buyout scheme. As far as I know they are still stuck with the old factory.
LES DITTRICH said:Les,
Why would the banks have confidence in those responsible for incurring the debt and failing to pay them back in the first place? If you saw marklin as a potential destroyer, what did you see the richters as? They borrowed the money and didn't pay it back! Hardly confidence inspiring is it? Nonetheless, it does appear that marklin paid out loads of money in interest and consultants' fees and that this may have contributed to its demise. But we must be careful to look past the posturing of the interested parties and await the facts as they are drip fed through the press and official announcements. Les
It all depends on “the perspective”; obviously “the Old Clique” getting away with a “smart reorganization” at the expense of their creditors - who BTW were not just the banks! - could be a very good thing if one is a Ventilator.
It almost worked with the Schöntag move, but isn’t there a saying that goes “There’s no honour among thieves”?. That along with the “possession is nine tenth of the law” rule could easily complicate plans that were neither “official” nor transparent.
But it would have been all good stuff, at least as far as the Ventilators with their marionette master and the “éminence grise” lurking in the background were concerned. 
Jack Barton said:We didn't forget any of the consultants that EPL hired over the years, did we? :) :/ :D And we didn't forget that the cozy arrangement with the Schmidt Bank led to the actual demise, did we? Or are you still in the "We rewrite history" business, with each client getting a customized version to fit the day? ;) :) That may work with your usual audience, but since so much of it is well documented you could save yourself the typing on LSC.
Let's not forget that these banks also imposed a "consultant/overseer" on Lehmann with fees in the range of 600,000€ for a year and a half. As some see it, a ploy to keep them from making reasonable payments on the notes. The only smile came from the city of Altenfurt making a smart move in the end that left Goldman Sachs with way less than half of the real estate they thought they were going to get in their debt buyout scheme. As far as I know they are still stuck with the old factory.
After watching and reading of the professional rape, plunder and “smart reorganization” of Märklin by the investment bankers, I can only sympathize with the small efforts EPL were able to attempt to fend off the predators.
Let’s see the Märklin export manager was fired. He’s the one that made the deal with Walthers or not? Mmmmmm…
“the Old Clique”
“Ventilators”
“marionette master”
“éminence grise”
All of this childish “name calling” makes one feel like they’re back on the schoolyard.
Sounds like the “Mission for Märklin” has come to an end.
John Joseph Sauer said:
"the Old Clique" "Ventilators" "marionette master" "éminence grise"All of this childish “name calling” makes one feel like they’re back on the schoolyard.
Sounds like the “Mission for Märklin” has come to an end.
Marvin, like it or not that’s how I see it. And it is always best to apply names that are
a) apt and concise
b) are not slanderous or libelous
c) very easy to understand
BTW there never was a “Mission for Märklin”, just a firmly held believe it was the best of the options presented. OTOH to be perfectly clear, yes I wrote to both Goldman-Sachs and Deutsche Bank, however my email read a bit different than the pleadings from the Ventilators and sundry fellow travellers. :lol: :lol:
Jack Barton said:
After watching and reading of the professional rape, plunder and "smart reorganization" of Märklin by the investment bankers, I can only sympathize with the small efforts EPL were able to attempt to fend off the predators.Let’s see the Märklin export manager was fired. He’s the one that made the deal with Walthers or not? Mmmmmm…
That is a very good laugh, indeed! But considering that you, according to your own statement, provide Newqida with a Scheba sample to copy,
Jack Barton said:
John,I can’t think of a thing Märklin has done for LGB that Lehmann couldn’t have done for less. Several months ago I contacted Newqida and shipped them my scale Scheba RhB flat car. I figure they will be out with their version nearly the same time that Märklin’s model makes it to the rail. That would be the only new piece that the “M” Mob is even close to providing the RhB fans. The rest of the so called new items were well on the way before Märklin was bought up by the bankers.
I am not surprised that you have a slightly skewed view on such things.
As far as Uhlmann goes he doesn’t leave until some time in June and I doubt that the Walthers deal was part of the decision. BTW Roth is still there, I hope the employees didn’t spend extra money on champagne, reading how “dearly loved” he is it would have been in order!
Jack Barton said:
After watching and reading of the professional rape, plunder and "smart reorganization" of Märklin by the investment bankers, I can only sympathize with the small efforts EPL were able to attempt to fend off the predators.Let’s see the Märklin export manager was fired. He’s the one that made the deal with Walthers or not? Mmmmmm…
If EPL had not screwed up in the first place and put themselves at the mercy of the banks, the banks would not have been in a position to be “predators”.
Perhaps you should consider adding “insulting” to your criteria for
name calling" eh?
John Joseph Sauer said:JJ, let us get this in perspective. The company failed to meet its 2004 financial commitment, were extended additional loans and an extended repayment plan and once aqgain defaulted in 2006. It was after the second default that their bank, who had stood by them for years, onsold the debt. No doubt the bank also has creditors who need to be paid as well. A company cannot expect to continue on promises only.
........ I believe that even though the old EPL management owed a substantial debt to the banks the company might have survived had the banks worked with them rather than throwing them to the wolves - Kingsbridge/Märklin being the wolf in sheeps clothing. The products and attitudes at EPL were changing when the bankruptcy took place. I have to wonder what might have happened if they had been given the chance to trim the company down and keep it in Nurnberg.....
The company was on a downward spiral since the early 1990’s when it lost its premier ranking to be ousted by all the other major model railroad manufacturers. You are talking from your heart (like most of us were during the decline of the Lehmann empire) and not using your head. The company was self managed into bankruptcy. It was at that point that the banks took control of the situation. Tthe banks did not orchestrate the downfall, it had already transpired.
As your illustrious compatriot has already stated, it is too early yet to attempt to rewrite history.
Hans-Joerg Mueller said:Jack Barton said::D :D :D That is a very good laugh, indeed! But considering that you, according to your own statement, provide Newqida with a Scheba sample to copy,
After watching and reading of the professional rape, plunder and "smart reorganization" of Märklin by the investment bankers, I can only sympathize with the small efforts EPL were able to attempt to fend off the predators.I am not surprised that you have a slightly skewed view on such things.
One would have to be totally mindless to try to contrive a connection between my quote and your comment.
John Joseph Sauer said:Marvin, it would be quite a job to insult you, wouldn't it? :D
Perhaps you should consider adding "insulting" to your criteria for name calling" eh?
Jack Barton said:Hans-Joerg Mueller said:Jack Barton said::D :D :D That is a very good laugh, indeed! But considering that you, according to your own statement, provide Newqida with a Scheba sample to copy,
After watching and reading of the professional rape, plunder and "smart reorganization" of Märklin by the investment bankers, I can only sympathize with the small efforts EPL were able to attempt to fend off the predators.I am not surprised that you have a slightly skewed view on such things.
One would have to be totally mindless to try to contrive a connection between my quote and your comment.
Jack,
If that’s the case you should do really well!
Ooooooooo! Kindergarten flashback!
Not quite, but who wouldn’t agree with such a cleverly constructed sentence like yours?